New Trump-backed SPAC deal creates Trump Media Group CRO Strategy, funded by $1 billion in CRO tokens, cash, warrants and a $5 billion credit line from Yorkville affiliate. Trump Media and Technology Group, the owner of US President Donald Trump’s Truth Social platform, announced a business combination with cryptocurrency exchange Crypto.com and the blank check company Yorkville Acquisition. Trump Media, Crypto.com and Yorkville Acquisition entered into a definitive agreement to jointly establish Trump Media Group CRO Strategy, according to a Tuesday announcement. The entity will be a digital asset treasury company focused on the acquisition of Cronos (CRO), the native cryptocurrency of the Cronos blockchain, developed by Crypto.com. Read more
Trump Media’s shares finished up 5.5% on Wednesday, outperforming the Nasdaq, on which the company is listed. Trump Media and Technology Group (TMTG), majority-owned by US President Donald Trump’s family, has filed for two artificial intelligence (AI) trademarks tied to a planned feature on the Truth Social platform. “Truth Social AI” and “Truth Social AI Search,” the names under which the trademark applications were submitted, will allow Truth Social to become a source of “reliable information, non-woke news, and entertainment,” according Trump Media Chairman and CEO Devin Nunes. TMTG's shares closed the day 5.5% higher on Wednesday, a rally that outstripped the Nasdaq, index on which the company is listed. Trump Media posted a net loss of $31.7 million for Q1 2025, with revenue of $8.8 million. Read more
Trump Media’s recently announced $400-million buyback plan will not alter its strategy of using $2.3 billion to invest in Bitcoin, according to the company. Trump Media and Technology Group, the company that owns the Truth Social platform, said its $400-million share buyback program will not affect its plans to create a Bitcoin treasury. In a Monday notice, US President Donald Trump's media company said its board of directors had authorized the repurchase of up to $400 million in common stock. The stock buyback does not impact the company's strategy to establish a Bitcoin (BTC) treasury using more than $2 billion in funds, it said. The media group initially denied reports that it was planning to raise roughly $3 billion to invest in cryptocurrency, but later confirmed a $2.5-billion capital funding to purchase Bitcoin. According to the Monday notice, Trump Media’s Bitcoin strategy “featured a private placement offering of approximately $2.3 billion in the aggregate.” Read more
The SEC’s approval comes just weeks after Trump Media confirmed its capital raise to purchase Bitcoin, following initial denials of earlier reports. Trump Media and Technology Group (TMTG), the company that owns US President Donald Trump’s Truth Social platform and is partially owned by the president, has received approval from the US Securities and Exchange Commission (SEC) for its registration statement tied to its $2.3 billion Bitcoin treasury deal. According to a June 13 SEC filing, the agency “declared effective” TMTG’s S-3 registration statement — filed on June 6 — for the Bitcoin (BTC) treasury deal. The S-3 is a form that US companies use to register the sale of various securities, like stocks, options, and different types of debt. TMTG filed a corresponding final prospectus with the SEC on the same day. The SEC filing said that, as part of its Bitcoin treasury plan, TMTG registered the resale of approximately 56 million shares and 29 million more tied to convertible notes as part of debt and equity a...
Trump Media & Technology Group filed an S-1 registration form with the US regulator to launch the Truth Social Bitcoin ETF. Trump Media and Technology Group, the company majority-owned by US President Donald Trump that runs his Truth Social media platform, filed with the US Securities and Exchange Commission (SEC) to launch a Bitcoin exchange-traded fund (ETF). TMTG filed an initial registration statement on Form S-1 for its Truth Social Bitcoin (BTC) ETF on June 5, according to an announcement by the company. The filing reads: The filing comes after stock exchange NYSE Arca submitted a proposal to the SEC to list the Truth Social Bitcoin ETF on behalf of crypto asset manager Yorkville America Digital, a partner of TMTG, the owner of Truth Social. Read more